Top Credit Rating Agencies in India

Here is a list of top 10 credit rating agencies in India; these are the best companies in credit rating industry providing risk assessment, ratings and analytic solutions. Ranking process of these credit rating agencies in India is frequently being updated by our expert team.

1 | Crisil Limited
Corporate office – Mumbai, Maharashtra | Establishment – 1987 |
Business – Credit Rating, Risk & Policy Advisory | |
CRISIL headquartered at Mumbai is India’s largest and first credit rating agency; and a global leader in research, ratings and risk & policy advisory services. It is one of the top credit rating agency in India which has won many prestigious awards in the credit rating category and had assessed more than 61000 entities.
2 | Credit Information Bureau India Limited -(CIBIL)
Corporate office – Mumbai, Maharashtra | Establishment – 2000 |
Business – Credit Rating information | |
CIBIL headquartered at Mumbai is an Credit Information Company which maintains records of an individual‘s payments related to credit cards and loans. The information about users credit cards and loans is later used by the CBIL to generate Credit information reports which are used to approve loan applications.
3 | Fitch Ratings India Private Ltd.
Corporate office – New York, USA | Establishment – 1913 |
Business – Financial Information Services | |
Fitch Ratings, a Fitch Group company is a among the top credit rating agencies in India incorporated in 1913 in New York, USA. Fitch Ratings provides financial information services in more than 30 countries and has over 2000 employees working at 50+ offices worldwide.

4| Equifax
Corporate office – Atlanta, United States | Establishment – 1899 |
Business – Credit rating | |
Equifax Inc started operations in 1899 and has managed to be among the top credit rating agencies in India and at global level. Equifax Inc provides information management services that process thousands of records of its members which can be used by them for various purposes and to supply risk management solutions, credit risk management and analysis, fraud detection triggers, decision technologies, marketing tools etc.
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5 | Credit Analysis & Research Ltd. (CARE)
Corporate office – Mumbai, Maharashtra | Establishment – 1993 |
Business – Credit Rating | |
CARE Ratings is second-largest among the credit rating agencies in India as far as Indian origin company is concerned. CARE’s rating businesses can be divided into various segments like for banks, IPO grading and sub-sovereigns. Company’s shareholders includes leading domestic banks and financial institutions in India.
6| ICRA Limited
Corporate office – Gurgaon, Haryana | Establishment – 1991 |
Business – Investment Information and Credit Rating | |
ICRA limited is a joint venture between Moody’s Investors and various financial services companies is a part of ICRA group which was founded in 1991. It is a Credit rating agency listed on the National Stock Exchange and Bombay Stock Exchange. ICRA has four subsidiaries ICRA Management Consulting Services Ltd, ICRA Techno Analytics Ltd, ICRA Online Ltd, PT. ICRA Indonesia and ICRA Lanka Ltd.
Corporate office – Gurgaon, Haryana | Establishment – 1993 |
Business – Research, Risk & Ratings | |
Onicra Credit Rating Agency is a Credit and Performance Rating company based in Gurgaon and founded in 1993. Onicra is among the top 10 credit rating agencies in India offering smart and innovative solutions like risk assessment, analytical solutions and ratings to MSMEs, corporate and individuals.
8| High Mark Credit Information Services
Corporate office – Mumbai, Maharashtra | Establishment – 2005 |
Business – Financial Services | |
High Mark Credit Information Services is a recognized credit rating company in India. It provides bureau services, analytic solutions and risk management to banks and financial institutions operating in Micro-finance, Retail consumer finance, MSME, Rural & Cooperative Sectors.
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9|SME Rating Agency of India Ltd. (SMERA)
Corporate office -Mumbai, Maharashtra | Establishment – 2005 |
Business – | |
SMERA Ratings Ltd a Mumbai based company now expanded to 13 more locations was founded in year 2005. SMERA a joint venture of SIDBI, several private sector banks in the country and Dun & Bradstreet Information Services India Pvt. Ltd. (D&B). Since 2005 SMERA rated over 23,000 MSMEs pan India.
10| Brickwork Ratings India Private Ltd
Corporate office – Bengaluru, Karnataka | Establishment – 2007 |
Business – | |
Brickwork Ratings was established in 2007 by Sangeeta Kulkarni as a credit rating firm. ndThe company is registered with SEBI, RBI & NSIC and operates in wide range of areas such as NCD, Bank Loan, Commercial paper, MSME ratings. It is among the leading credit rating companies in India having already rated Rs 200,000 crores of bonds and bank loans.
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